How is price perdetermined for the service provided?
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Answer:
Demand based pricing: Demand Based Pricing is a pricing method based on the customer's demand and the perceived value of the product. In this method the customer's responsiveness to purchase the product at different prices is compared and then an acceptable price is set.
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Explanation:
Business schools teach a standard formula for determining an hourly rate: Add up your labor and overhead costs, add the profit you want to earn, then divide the total by your hours worked. This is the minimum you must charge to pay your expenses, pay yourself a salary, and earn a profit.
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